Business Buzz: DEI Reversal, CEO Insights, and Industry Developments

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.Despite high expectations, the promise of delivery drones has been slow to materialize. Companies are making progress in obtaining regulatory approvals, but scaling operations remains a challenge. The Federal Aviation Administration (FAA) has started issuing exemptions for flying drones beyond visual line of sight, allowing companies like UPS, Zipline, DroneUp, and Amazon Prime Air to expand their operations in the U.S. However, challenges remain in making the financials of scale work and dealing with societal resistance. Some companies are facing backlash, such as Amazon Prime Air experiencing noise complaints in a small town north of Houston. Overall, the industry is seeing progress with increased customer bases and service areas, but there are still hurdles to overcome before widespread adoption of delivery drones can be achieved.Goldman Sachs' global head of sports financing, Stacy Sonnenberg, discusses the future of private equity investing in sports. The recent NFL decision allowing private equity firms to own up to 10% of a team has sparked interest in the industry. Sonnenberg identifies two categories: investing in sports across the ecosystem or focusing on individual sports teams. Major leagues like the NBA and NHL have opened doors to minority team investments by private equity firms. Some firms taking a new approach include Arctos, Dyal Partners, and Dynasty. Traditional players like CVC Capital Partners and Ares Management also invest in sports-related assets. Private equity's history in sports dates back to 2005 when Bain Capital attempted to buy the entire NHL. Since then, returns from sports investments have been significant. Goldman Sachs facilitated the purchase of soccer team AS Roma by private equity firm Friedkin Group and has a stake in Legends, a stadium concessionaire giant. Private equity firms are also starting to invest in slower-growth insurance companies. There is a growing trend of private equity firms investing in sports teams and related assets, with significant returns seen in recent years.Ford has decided to reverse its diversity, equity, and inclusion (DEI) initiatives in response to threats of a boycott from conservative activist Robby Starbuck. Tyson Foods CFO John Randal Tyson, who was suspended after a DUI arrest, will not return to his role. Zillow's CEO remains hopeful about the housing market despite its struggles. The email also mentions upcoming events such as the Deloitte CEO program and Fortune COO Summit, as well as insights from various CEOs including FedEx, Royal Bank of Canada, and AI pioneer Yoshua Bengio. Airbnb's Brian Chesky reflects on the lack of appreciation for learning to be a CEO early in his career. Elon Musk's X will shut down its SF headquarters, and L'Oreal heiress has been dethroned as the world's richest woman. Warby Parker's founders defied skeptics to build a successful business. Elon Musk threatens a top Brazil judge over attempts to block X in the country. Overall, the email highlights various leadership insights, events, and developments in the business world.

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